INSIDER EXCLUSIVE: Sinar Mas to Build $245 Million Oleochemical Factory in Riau -Chairman
March 13 (The Insider Stories) — Indonesian integrated palm-based consumer-product company PT Sinar Mas Agro Resources & Technology (SMAR.JK) via its unit PT Energi Sejahtera Mas plans to build a manufacturing facility for oleochemicals, margarine and specialty fats in Lubuk Gaung Dumai, Riau Province. Total investment for the project is around US$245 million.
“The design of the proposal is on the way and we will soon send it to the government,” SMART Chairman Franky Widjaja Oesman told the The Insider Stories.
The factory, which will produce margarine, speciality fats or other oleochemical products, may be granted tax breaks from government as it is located outside the main Indonesian island of Java.
The products will be supplied the to domestic and export markets, Widjaja said.
SMART, a subsidiary of Golden Agri-Resources Ltd (GAR), was founded in 1962. The company now has planted area of 138,931 hectares focused on producing of palm-based edible oils and fats. SMART markets refined products under several brands such as Filma and Kunci Mas.
